After trading mostly in the negative territory, the FBM KLCI extended its losses to close at 1,749.25 pts yesterday in tandem with the weakness across key regional indices. The MACD Line has issued a SELL signal, while the RSI is overbought. The immediate resistance will be pegged around the 1,770-1,780 levels. Support will be set around the 1,730 level.

ECOWLD experienced a symmetrical triangle formation breakout above the RM1.53 level with improved volumes. The MACD Line has issued a BUY signal, while the RSI continues to trend above the 50 level. Price may rally to target the RM1.62-RM1.74 levels. Support will be anchored around the RM1.47 level.

JOHOTIN experienced a trendline breakout above the RM1.34 level accompanied by improved volumes. The MACD Histogram has turned green, while the RSI is re-testing the 50 level. Price target will be located around the RM1.48-RM1.60 levels. Support will be pegged around the RM1.30 level.

SALCON experienced a Breakout-Pullback-Continuation pattern to close above the RM0.68 level with high volumes. The MACD Line has expanded positively above the zero level, but the RSI is overbought. Price might stage a mild pullback before targeting the RM0.735-RM0.77 levels. Support will be set around the RM0.64 level.

Source: Mplus Research - 31 Mar 2017